iShares Currency Hedged MSCI EAFE ETF
$46.72−0.46 (−0.96%)
- Expense ratio
- 0.70%
- Fund size
- $7.5B
- 1Y return
- +25.0%
- Yield · Last 12 months
- 3.97%
- Volume · 30D
- 0.6M sh
- NAV per share
- $46.95
- 52W range
The ETF.net HEFA Grade
Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 0Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 69Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 69Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 72Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 63Category rank
Our read on HEFA
CDeveloped-market stocks from Europe, Japan and Australia with the currency swings stripped out. iShares' long-running hedged EAFE fund owns the same companies as the standard index, then neutralizes most of the yen, euro and pound moves.
The fund seeks to track an index of international equities in developed markets while reducing the effect of currency fluctuations.
Why people hold it
- One job, stated plainly: MSCI EAFE developed-market equities with currency exposure hedged to the dollar, so results lean on the companies rather than the yen, euro and pound.
- A multi-billion-dollar fund that trades actively, making it one of the more established vehicles for hedged developed international exposure.
- Running since 2014 under the iShares banner, tracking a published benchmark (MSCI EAFE 100% Hedged to USD) you can check the fund against.
- Distributions arrive on a quarterly cadence.
Worth knowing
- The hedge is not free: the expense ratio sits well above the roughly 0.18% median for this peer group and far above the 0.03% charged by VEA, SPDW and SCHF.
- Hedging cuts both ways. When the dollar weakens, unhedged developed-market funds pick up that currency move and this one is designed to sit it out.
- Measured against the plain, cheap trackers in its cohort, it lands in the lower tier overall, mostly on price.
HEFA Holdings
- Stocks
- —
- 14%
- ASML.AS
Sectors
- Financials26.5%
- Industrials18.1%
- Technology11.8%
- Health Care10.1%
- Consumer Discr.7.1%
- Cons. Staples6.5%
- Materials6.1%
- Communication4.7%
- Energy4.1%
- Utilities3.6%
- Real Estate1.5%
Geography
- Japan24.49%
- United Kingdom13.90%
- Switzerland9.68%
- Germany8.75%
- France8.63%
- Netherlands6.46%
- Australia6.39%
- Spain3.94%
- 17.77%
Developed 99% · Emerging 1%
HEFA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HEFA$12,504
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HEFA |
|---|---|
| Year to date | +15.7% |
| 1 month | −0.2% |
| 3 months | +1.6% |
| 1 year | +25.0% |
| 3 years | +19.9% |
| 5 years | +14.0% |
| 10 years | +12.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HEFA |
|---|---|---|
| 2026 YTD | +15.7% | |
| 2025 | +24.5% | |
| 2024 | +13.7% | |
| 2023 | +20.3% | |
| 2022 | −4.8% | |
| 2021 | +19.6% | |
| 2020 | +2.1% |
HEFA in the news
HEFA Dividends
- 3.97%
- $1.87
- $0.69 per share
- Twice a year
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jul 2, 2026 | Jul 8, 2026 | $0.69 |
| Dec 23, 2025 | Dec 29, 2025 | $0.75 |
| Dec 2, 2025 | Data unavailable | $0.43 |
| Jul 2, 2025 | Jul 8, 2025 | $0.64 |
| Dec 20, 2024 | Dec 26, 2024 | $0.47 |
| Jul 2, 2024 | Jul 8, 2024 | $0.60 |
| Dec 22, 2023 | Dec 29, 2023 | $0.40 |
| Jul 3, 2023 | Jul 10, 2023 | $0.55 |
| Dec 23, 2022 | Dec 30, 2022 | $0.11 |
| Dec 2, 2022 | Dec 8, 2022 | $5.89 |
| Jul 5, 2022 | Jul 11, 2022 | $0.78 |
| Dec 23, 2021 | Dec 30, 2021 | $0.60 |
HEFA Risk
- 8.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.64
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.50
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HEFA Cost
0.70%
HEFA0.70%
- The middle half of Developed International Core funds
- Median 0.09%
Every other Developed International Core fund charges less.